Students can complete a wide range of customizable practice tests. Plus, you can contact an instructor for help at any time if you’re struggling with certain concepts. Right now their Series 63 course costs $118 and their Series 66 program is $183. Under the proposed rule hedge fund managers would have been required register with the SEC (if they had at least $30 million under management), but Phillip Goldstein successfully challenged the SEC in court. His successful challenge to the rule change allows hedge fund managers to escape SEC regulation. Finally, if the hedge fund trades futures or commodities then the manager may need to be registered as a commodity pool operator with the National Futures Association.
Unfortunately, this hypothetical situation occurs all the time. Someone thought they were going to breeze through the examination, told all their friends, made plans for their future, and then got an embarrassing reality check from the Series 66 Test. Our top pick for best Series 66 Study Guide is Wiley Series 66 Exam Review. It has everything you need to serve as your sole resource (but adding in flashcards and other materials is always a good idea). Pass The 66 Study Guide contains over 420 pages of highly relevant information drawn from every topic covered in the Series 66 Exam. We tend to recommend most people go with the Wiley Series 66 Study Guide (above), but if the price tag or other preferences are turning you off, this is a good alternative.

Series 66 vs Series 7: Two Titans

Like the Series 65 exam, the Series 66 exam qualifies candidates to act as an IAR, registered with the Securities and Exchange Commission or individual states. However, because the Series 65 exam duplicates many questions from the Series 7 exam, NASAA created the Series 66 exam for Series 7 license holders who want to become an IAR. Essentially, Series 66 is a combination of the Series 63 and Series 65 exams, with the duplicative questions from the Series 7 exam removed. Candidates who want to become an IAR without holding a Series 7 license can take the Series 65 exam.
Plus, the QBank, which can be purchased separately for $69.50, adds a lot of value. It can be helpful to identify answer choices that are definitely not suitable and then eliminate those answers. In this blog, we will discuss the structure of the Series 66 exam, highlight 4 highly tested topics, and provide examples of questions you may encounter. Looking for an individual study tool to complement your study package?

If you do not pass either the third or fourth attempt, you will need to wait at least 180 days before taking the exam again. There is no limit on the number of times allowed for taking a test. The exam is computer-based and will initially instruct you on how to properly answer and mark the following questions. Note that the beginning of the exam will most likely include the easiest questions, and then the questions will get harder as you reach the middle.
In this video lecture series, we show you how to break down the toughest Series 66 Questions, so you get the correct answer every time! Spend over 10 Hours in 8 class sessions with Robert Walker, author of “Pass The 66 Success Program,” to understand the nuances of breaking down the exam questions to get to the correct answer. In order for a candidate to pass the Series 66 exam, he/she must correctly answer at least 73 of the 100 scored questions.

Our Series 66 Test Study Guide Is Unlike Any Other

By contrast, the Series 66 exam will test your memorization since the exam is fully based on understanding securities law. It’s important to know what kind of work you’re interested in before choosing between these certifications. Both will prepare you to become an investment agent but only the Series 66 will help you become an investment advisor representative on top of that. It may be better to take the easier Series 63 test if you aren’t interested in that extra qualification. If you’re wondering which of these two security exams is more difficult, consider the average pass rates for both tests. I’ve compiled all the key information you need to know about these 2 exams to ensure that you know what you’re getting into ahead of time.

Unlike the Series 6 or Series 7 licenses, you do not need to be sponsored by a FINRA-member firm, company, or organization to register for the Series 66 exam. Other securities licenses that you may consider include the Series 6 FINRA license, Series 63 license, and Series 65 license. Keep in mind that if you plan to use your Series 66 license, you are required to have a Series 7 license as well.
It is not a stale rehash of all of the things you have already learned in the past. The Uniform Combined State Law Examination is quite simply an objective assessment of a test taker’s requisite foundation of knowledge and skills. He did not look forward to having to tell them the embarrassing news, especially after he had boasted that it was no big deal. He had been procrastinating about taking the exam because he hated standardized tests, and this only confirmed his hatred.

What is the Series 66 exam?

And besides just text and questions, make sure your chosen course provides access to video or audio summaries, flashcards, and extra exams that can truly predict your readiness. Bonus if they offer mobile options that you can access while you commute. An easy-to-understand twenty chapter print self-study manual based upon the FINRA SIE content outline.
Created and administered by the Financial Industry Regulatory Authority, or FINRA, the Series 66 exam must be taken in conjunction with the Series 7 exam in order to apply for registration with a state. The exams may be taken in any order, but both must be passed in order to be able to register. QBank is included in all of Kaplan’s study courses, including the $149 Basic package, the $189 Essential package, and the $269 Premium package. All packages come with Kaplan’s highly acclaimed study manual, study calendar, performance tracker, and practice exams. The two upper-tier packages come with a video library and checkpoint exams.
We offer a variety of instruction options and exam prep study tools to best suit your learning style and schedule. The best way to set yourself up to pass the exam is by preparing and studying. The questions that you answer correctly can come from any section of the exam.
There are a total of 110 questions, although only 100 questions are counted toward the final grade. The additional ten questions are pretest questions and do not count. To pass the exam, seventy-three of the one hundred questions need to be answered correctly within the two and a half hours given to take the test.
Below, we’ll tackle what the exam is, what exactly it covers and how you can best prepare. When you sign up for a customized Series 66 class, you get the undivided attention of someone who understands the expectations of the Uniform Combined State Law Examination. Your tutor can work with you to ensure that you understand and can apply your knowledge of investment vehicles, client retirement plans, laws, regulations, and ethics. You can dictate what you want to focus on, or your Series 66 test prep instructor can assess your needs to figure out a custom study plan to keep you progressing towards your goals.
The writers and instructors at The Securities Institute are subject-matter experts as well as Series 66 test experts. We understand how the test is written, and our proven test-taking techniques can dramatically improve your results. Passing the Series 66 exam fulfills the requirements for both the Series 63 exam and Series 65 exam. However, the candidate must also pass the Series 7 – General Securities Representative Exam. The Series 66 exam qualifies a candidate to register with states as both securities agent (registered representative), and investment adviser (IA) or investment adviser representative (IAR). The exam is developed and maintained by the North American Securities Administrators Association (NASAA) and administered by FINRA.
Because so much of the exam focuses on investment recommendations and regulations, these areas are good places to focus your studying when you begin your test preparation. The Uniform Combined State Law Examination also called the Series 66 exam is designed to qualify candidates as both securities agents and investment adviser representatives in the United States. It was developed by North American Securities Administrators Association (NASAA) and operated by the Financial Industry Regulatory Authority (FINRA). There’s a lot of information to have at the front of your mind on exam day, so your Series 66 preparation needs to be well-rounded.
It distills all of the test topics down into compact cards that are perfect for quick review and memorization. Flashcards aren’t usually enough for most people to study from on their own, but they can be a terrific way to compliment a study guide and other materials. Agents are required to register in their home state, their state of employment, and the state of residence of their customers. A broker dealer is a person or a firm that maintains a place of business and affects transactions in the securities markets for its own account or for the account of others. A broker dealer must be registered in its home state as well as in the states of its individual clients.
A best practice if you’re working is to study at least an hour or two 4 days during the week and commit 6 – 10 hours on the weekend. It’s never easy to find the time, but you have to—there’s no way around it. Test takers who do not pass the exam may schedule a retake of the exam after a 30-day waiting period. After a test taker has failed the exam three times, 180 days must pass before they are able to schedule a fourth (or subsequent) exam.
The Series 66 exam will be presented in a 100-question multiple-choice format. Each candidate will have two-and-a-half hours to complete the exam. The Series 66 Exam has been developed by the North American Securities Administrators Association (NASAA) and it combines state securities law with investment advisory practices. This allows you to qualify as an Investment Adviser Representative and as a securities agent representing a broker dealer. Although this test is a challenging one, STC’s comprehensive materials and its best-in-industry instructors will help you pass the first time.
And keep in mind that the test underwent major changes in January 2019 to reflect the new tax laws. My relevant qualifications include an MBA, CDFA, Series 7 & 66 Licenses, and educating and presenting to audiences and teams for over a decade. My business experience includes launching three businesses, implementation of different business models, niche branding, marketing, operations and client acquisition and retention. I volunteer my time educating women facing life changing events… When you consider what’s at stake with the exam, we believe the value of our study guide gives you at least ten times your money’s worth. ADV Part 1B provides details on the indirect owners of the firm and is filed with the state securities administrator for advisers registered at the state level.